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Reducing gap between headline and core inflation is a challenge before the new government
The greatest challenge for the Indian economy is inflation, including reduction in the gap between headline (5.2 percent) and core inflation (8.6 percent) as it exists in April 2014. Inflation is location specific problem which should be measured at various locations at State and District levels by identifying the basket of goods consumed by various consumers from different socio-economic groups.

To create a fair society with inclusiveness meaning thereby care of the cared less (not care less) and use of the used less ( not useless) manpower, we need political commitment of politicians of all shades and creeds with faithfulness to the intentions of the will of the people as advocated by Dr. B.R. Ambedkar. 

It is in fitness of things to ensure good governance (SMART administration with SIMPLE attributes) in tune with changing business environment.

To provide bread and employment to the educated manpower, we need to increase Returns on Training Investment (ROTI).

To utilize the human capital of India in an effective manner, calls for manpower planning for matching demand and supply of skilled personnel, training of manpower for reducing mismatch between the abilities and the jobs on offer and above all mechanism by pairing people with jobs through information network (WWW).

Indian human capital, which possess higher emotional quotient (EQ) believes in ‘work is worship and vice versa’ is better than anybody else in the world. It is also cost effective and is welcomed around the world.

(Dr. MM Goel is professor of economics at Kurukshetra University, Haryana)

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
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